StockNews.com Initiates Coverage on Arch Resources (NYSE:ARCH)

Stock analysts at StockNews.com began coverage on shares of Arch Resources (NYSE:ARCH) in a report issued on Tuesday. The firm set a “hold” rating on the energy company’s stock.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler upgraded shares of Arch Resources from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $165.00 to $150.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Arch Resources from a “hold” rating to a “buy” rating and lowered their target price for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, Benchmark restated a “buy” rating and issued a $180.00 price target on shares of Arch Resources in a report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.17.

Arch Resources Trading Up 0.7 %

Shares of NYSE ARCH opened at $134.81 on Tuesday. The company’s 50-day moving average price is $155.00 and its 200 day moving average price is $144.91. Arch Resources has a 52 week low of $116.44 and a 52 week high of $187.60. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 14.16 and a beta of 0.69.

Arch Resources (NYSE:ARCH) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($2.17). Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The firm had revenue of $617.90 million during the quarter, compared to analyst estimates of $587.71 million. During the same period in the prior year, the firm earned $3.91 EPS. The business’s quarterly revenue was down 17.0% on a year-over-year basis. As a group, research analysts expect that Arch Resources will post 5.86 earnings per share for the current year.

Institutional Trading of Arch Resources

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC boosted its position in Arch Resources by 6.5% during the second quarter. Hsbc Holdings PLC now owns 2,250 shares of the energy company’s stock valued at $343,000 after purchasing an additional 137 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Arch Resources by 340.5% during the 4th quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock worth $26,000 after purchasing an additional 143 shares in the last quarter. KBC Group NV lifted its holdings in shares of Arch Resources by 43.3% during the 3rd quarter. KBC Group NV now owns 569 shares of the energy company’s stock valued at $79,000 after buying an additional 172 shares during the last quarter. Bank of Montreal Can increased its holdings in Arch Resources by 7.5% in the second quarter. Bank of Montreal Can now owns 3,111 shares of the energy company’s stock worth $474,000 after buying an additional 217 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in Arch Resources by 10.3% in the third quarter. Sanctuary Advisors LLC now owns 2,554 shares of the energy company’s stock worth $353,000 after acquiring an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

About Arch Resources

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.